Financial Accounting  and Reporting 

Financial Accounting and Reporting (FAR) 

For the majority of students, FAR is the first Professional level paper they sit and the highly technical content can prove tricky for many.  There are four questions in the FAR exam and each is entirely predictable: prepare a set of single entity accounts, explain the accounting treatment of a set of transactions, prepare a set of consolidated accounts and a mixed topic question (normally consisting of a cash flow statement and a consolidation working). In addition to teaching the technical content, our tuition focuses heavily on teaching the optimal exam technique for each question so that you score a strong mark in the FAR exam. The exam techniques you will be taught are those which enabled your tutor to score 88% in the FAR exam and win a prize from the ICAEW.

A small sample of our student feedback is included below:

 

The focus on exam technique for FAR enabled me to tackle the questions that gain most marks first, answer efficiently and most importantly, learn the knowledge needed for unexpected questions that may arise. The focus on the FAR explain questions really cemented the knowledge in my head which enabled me to tackle the other questions in the paper.

 

The online webinars are great in addition to the live tutoring as they explained topics and exam technique by applying them to different questions. Repetition is key and by watching the online webinars and answering the questions the way Kieran explained in order to pass the exam, became a habit.

 

The revision notes were very concise and there was nothing unnecessary in them.

 

I will most definitely be using ACA Masters services/products in the future whether it be online webinars, notes and/or tuition classes.

Kieran M (FAR student who passed first time with us)

The focus on exam technique was really helpful. I found it meant that I had seen almost every different style of exam question. I particularly benefited from learning the theory and then applying this to an exam question. The focus on the explain style questions at the start forced me to learn the standards which also helped with the other style of questions.The technical tuition focused on the right areas as more time was put into areas which almost always come up. Also, the exam tips were very helpful as were the learning materials. I would recommend this course to other students who need to pass. I would also like to sign up for the TC tuition if there are any available spaces.

Lucy (FAR student who passed first time with us)

I found the tips on how to approach the questions very useful e.g. the approach for the written 'explain questions' gave me a method which could be applied to any 'explain question' that came up.

It was good that the sessions were broken up into separate areas of the exam so it was clear which question we were working on and gave a bit of structure to my revision. I would definitely recommend taking the course as it was much more understandable than the college course for this module.

Kam (FAR student who passed first time with us)

I feel the exam technique using past papers helped me perform better in the actual exam especially the focus on the core areas that repeat most commonly in papers.The learning materials and exam tips were really helpful especially the use of computer to demonstrate the answer which is something that other tutors have not used.  I would recommend the course to other students; the small class size is helpful in getting the most out of the sessions. In the future I plan on using your courses again for my next exams where possible. Overall, I was really happy with the tuition and achieved my goal of passing all 3 exams first time (even though it did seem impossible)!

Rory (FAR, TC and AA student who passed first time with us)

The tuition was excellent. The explanations and reasoning that was provided was very helpful for my understanding and the pace was just right. I would recommend the course to others. 

Imogen (FAR student who passed first time with us)

Notes provided are very useful and break the complex technical areas down in an easily understandable way. The step by step processes used allow for greater understanding of the topic making questions seem far less daunting.  They also enable the question to be broken down into parts enabling greater marks to be obtained.

The more concise approach used in the notes and question practice really benefited my studying as opposed to the lengthy course materials provided by my college.

Matt (FAR student who passed first time with us)

Further detail on how our approach differs from other tuition providers is included in our 'How to pass the FAR exam' article. 

Tuition Options

To get you through your FAR exam, we offer small group classroom tuition, online tuition and one-to-one tuition.

 

Classroom tuition - London

Our FAR course comprises six classes which are held on Saturdays in central London. Each of the first five classes focus specifically on one of the four FAR exam questions and you will be taught: the key accounting concepts and standards; the most effective way to read and work through the exam paper; the key things to look out for in exam questions; and most importantly, the specific technique you should use when typing your answer in the exam.  We will work exclusively with past paper questions from recent exams to ensure that you get up to the required standard as soon as possible – rather than wasting time with ‘warm-up’ questions. You will also be coached on how to study effectively, how to structure your revision and be guided as to what you need to do to pass the ACA exams with top marks.

The classes are structured as follows:

1. Assets, Leases and 'Explain accounting treatment' exam questions

2. Revenue, Provisions, Financial Instruments and 'Explain accounting treatment' exam questions

3. Tax, Other standards and 'Single entity financial statement preparation' exam questions

4. Groups 1

5. Groups 2 and Cash flow statements

6. Exam Technique Masterclass

Tuition fees

There are two payment options for the FAR classroom course.

Option 1: Pay as you go

Tuition fees are £150 per class.

Option 2: Full Course

For students attending all 6 classes, the tuition fee is reduced to £130 per class.

Therefore, the full cost of the course is £780. 

 

The full course includes:

- Full access to our popular FAR exam masterclass webinars which sell separately for £195 (see below).

- Learning materials which sell separately for £25 (see below).

- A £10 per hour discount on any one-to-one tuition required (see below).

 

​Please contact us here if you wish to book.

Tuition is held in central London on Saturdays. Each class has a maximum of 12 students. This small group format ensures that the tutor can dedicate sufficient attention to each individual student, whilst at the same time building a collaborative learning environment where questions can be freely asked. This small group format has proved highly effective for our current and former students and is a contributing factor to our exceptionally high student pass rate. Students are also encouraged to act as ‘study buddies’ outside of formal tutoring hours.

 

Online tuition - FAR Exam Masterclass webinars

As it is not possible for all students to attend our FAR classroom course in London and because the course is often fully booked, our prize-winning senior ACA tutor Kieran Doe has recorded a series of FAR exam masterclass webinars. 

Our online masterclasses teach exactly the same content and exam techniques as our classroom tuition (above). Many students prefer the online masterclasses as they offer a lower cost option and can be accessed from any location with internet connection. 

Each class explains the key technical concepts and demonstrates the optimal exam technique by tackling recent past exam questions. The classes apply the exam strategies and techniques which resulted in Kieran scoring 88% in the FAR exam and winning a prize from the ICAEW.

There are 15 classes in total, with each class teaching you the optimal exam technique for one of the four FAR exam questions (several of our recent students have scored 80%+ using these techniques despite having previously failed with another tuition provider).

 

Each class is approximately 1 hour in length. The classes are structured so that the course covers each type of FAR exam question and a full range of technical areas.

  1. IFRS Technical tuition and Explain Accounting Treatment (Assets and Leases); Ethics; UK GAAP comparison

  2. IFRS Technical tuition and Explain Accounting Treatment (Revenue, Financial Instruments, Provisions)

  3. Explain Accounting Treatment

  4. Explain Accounting Treatment (including Groups)

  5. Single Entity Accounts

  6. Single Entity Accounts (with OCI)

  7. Single Entity Accounts (with Statement of Changes in Equity)

  8. Single Entity Accounts (with disclosure note)

  9. Groups: Income Statement and Statement of Financial Position extracts

  10. Groups: Statement of Financial Position 1

  11. Groups: Statement of Financial Position 2

  12. Groups: Income Statement and Statement of Changes in Equity

  13. Groups: Income Statement and Statement of Changes in Equity 2

  14. Cash Flow Statement

  15. Cash Flow Statement 2

  16. Ethics, Conceptual Framework, UK GAAP comparison

You can view one of our FAR Exam Masterclasses below. 

You can purchase each individual class via PayPal for only £20 by clicking on the 'rent' icon below. You can then watch the class as many times as you need to ensure that you have understood the technical principles and mastered the exam techniques taught during the class. You can stream the classes directly below and view them on any device which has internet connection within the 72 hour viewing period. If you require access for longer than 72 hours, we suggest that you opt for the Full Series Offer - see below for details.

Full Series Offer

​​You can subscribe to all of the classes for £195 and enjoy a viewing period of up to 6 months. Just click on the subscribe icon on the video below to purchase via PayPal.

 

Please note that this is a monthly channel subscription so you will need to cancel your subscription a day before the end of the first month. You can cancel your subscription via PayPal. If you require access for longer than one month then please email us your PayPal payment confirmation email and we will send you a link to the videos so you can continue watching the videos for a further 5 months. There is no additional charge for this.

Students who have subscribed to the full series are also entitled to a £10 per hour discount on one-to-one tuition (see below).

 

One-to-one tuition

If you are struggling with a particular area, then one-to-one tuition is also available. We suggest that one-to-one tuition is used to supplement the tuition provided during our classroom or online classes to address any specific areas where you require intensive support. 

 

Tuition fees are £75-95 p/hour depending on the level of seniority of the tutor. 

We offer a £10 per hour discount on one-to-one tuition for students who attend either our classroom tuition or online tuition.

Please contact us here if you wish to book.

 

Learning materials

Our prize-winning ACA tutor, Kieran Doe, has developed our unique FAR learning materials which consist of:

​​

  • Easy-to-use summarised technical notes for each subject area 

  • Calculation proformas and reminders 

  • Specific exam technique guidance for each type of FAR exam question

A small sample is included below. The price for our unique FAR materials is £25. You can purchase below using PayPal; if you wish to use another payment method then please contact us.

Once payment has been received, you will receive the materials via email within 24 hours.

Contact us here or email bookings@acamasters.com

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